DJIA Market Happenings For Tuesday, March 29, 2022 – Chevron (CVX) 166.35 Down -0.98% YTD

Dow stocks hitting 52-week highs include Travelers (TRV) 186.76 and UnitedHealth (UNH) 513.20. There are no Dow stock 52-week lows.

The Market

Premarket today, the Dow was indicated to open up +266 points.

Monday the Dow closed up +94.65 (+0.27%) at 34,955.89.

Year-to-date the Dow is down -3.80%.

There were 16 Dow stocks up Monday.

The Dow stock winners Monday were Microsoft (MSFT) 310.70 (+2.31%), Salesforce (CRM) 215.28 (+2.01%) and Walmart (WMT) 146.00 (+1.78%).

The Dow stock losers Monday were led by Chevron (CVX) 166.35 (-1.75%), Dow (DOW) 64.11 (-0.91%) and JPMorgan (JPM) 140.87 (-0.74%).

The 10 YR yield is currently at 2.419%.

Dow futures pointed to a higher open Tuesday and a fourth straight session of gains.

The 5-year Treasury yield was still higher than the 30-year yield Tuesday morning, one day after doing so for the first time since 2006. This type of inversion has in the past happened before recessions. However, the main spread that traders watch, the 2-year Treasury yield and the benchmark 10-year yield, remained intact. The 10-year yield was just under 2.5% on Tuesday, still near a three-year high. The strength at the shorter end of the Treasury yield curves comes as the Fed is expected to get more aggressive with short-term interest rate hikes this year to fight inflation. Central bankers at their March meeting increased interest rates for the first time in more than three years.

Oil prices dropped 5% Tuesday on hope out of Russia-Ukraine talks. West Texas Intermediate crude, the U.S. benchmark, fell more than 8% on Monday as concerns over new Covid lockdowns in China and the potential for curtailed demand sent prices tumbling.

Peace talks between Russian and Ukrainian delegates resumed in Istanbul on Tuesday. As negotiations began, three humanitarian corridors have been opened in Ukraine. Meanwhile, Deputy U.S. Treasury Secretary Wally Adeyemo said on Tuesday that America will hold accountable anyone seeking to help Russia bypass sanctions for its unprovoked attack on Ukraine.

U.S. futures are higher, European stocks are higher and Asian markets ended mostly higher.

The national average price of gasoline is down two-tenths of a cent at $4.244 per gallon.

Earnings Reports

Nike (NKE) reported earnings on 3/21/2022 after the market close with $0.87, beating estimates of $0.732 per share.
Walgreens (WBA) reports earnings on 3/31/2022 before the market open.

Today’s Featured Dow Stock

Chevron (CVX)

Chevron (CVX) 166.35 (-1.75%) is down -0.98% in 2022.

Financial Calendar

08:55 AM ET Redbook (YoY)
09:00 AM ET FOMC Member Williams Speaks
09:00 AM ET House Price Index (YoY) (Jan)
09:00 AM ET House Price Index (MoM) (Jan)
09:00 AM ET House Price Index (Jan)
09:00 AM ET S&P/CS HPI Composite – 20 s.a. (MoM) (Jan)
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (MoM) (Jan)
09:00 AM ET S&P/CS HPI Composite – 20 n.s.a. (YoY) (Jan)
10:00 AM ET CB Consumer Confidence (Mar)
10:00 AM ET JOLTs Job Openings (Feb)
10:30 AM ET Dallas Fed Services Revenues (Mar)
10:30 AM ET Texas Services Sector Outlook (Mar)
10:45 AM ET FOMC Member Harker Speaks
13:00 PM ET 7-Year Note Auction
16:30 PM ET API Weekly Crude Oil Stock

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